Intel to Split Off Specialized Chip Business as CEO Pursues Turnaround

Chip maker says unit that makes programmable chips for defense, telecommunications will eventually go public

Intel has ruled the market for central processing units since the 1980s. But rival AMD overtook Intel in market value last year, thanks in part to an expensive bet on chip design. WSJ’s Asa Fitch explains the companies’ battle for the brains of your computer.

Intel intends to sell a stake in a division that makes programmable chips widely used in the defense and telecommunications industries as Chief Executive Pat Gelsinger pushes forward with the company’s far-reaching and expensive turnaround bid.

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